Polygon briefly surpasses Ethereum in the number of active addresses after a rise of 330%

Layer 2 protocols have seen monumental growth this year. And in terms of active addresses, one of them briefly outperformed the network for which it is a scaling solution.

The number of daily active unique addresses in Polygon’s Layer 2 aggregator has exceeded that of Ethereum’s costly Layer 1. according to Polygon co-founder Mihailo Bjelic.

According to their statistics Polygon had 351,000 daily active addresses on Monday while Ethereum had 326,000.

Polygon briefly surpasses Ethereum in the number of active addresses after a rise of 330%
Polygon briefly surpasses Ethereum in the number of active addresses after a rise of 330%

According to polygon scan, the number of active addresses skyrocketed on September 20, peaking at 426,586 on Monday, before declining slightly to 385,740.

Etherscan reports that Ethereum’s daily number of active addresses on Wednesday was 457,402, so the two are pretty much the same right now.

The number of active addresses on Polygon has increased by 330% in the past three months, while that of Ethereum has decreased by 12%. in the same metric during the same time period.

In tà © rmIn terms of cumulative unique addresses, Ethereum is way ahead with 170.8 million on Wednesday, according to Etherscan, while Polygon also had 89 million district addresses on Wednesday.. However, Matic just changed its name to Polygon and was launched in February so that growth came in less time.

Polygon currently has a higher number of transactions, according to Polygonscan, with a total of 5.7 million transactions recorded on Wednesday, compared to 1.1 million on Ethereum layer one. This is mainly due to Ethereum’s high fees, which have recently risen again.

Defi Lama currently reports that The Total Blocked Value (TVL) of all protocols on Polygon is $ 4.810 million; However, it has more than halved since its all-time high of $ 10.54 billion in mid-June. The most popular protocol on the network is the Aave flash lending platform, with a TVL of $ 1.77 billion. or 37% of the total.

Polygon received massive support in May when billionaire Mark Cuban added it to their portfolio. Its native token, which is still called MATIC, has risen 5.2% to $ 1.14 in the past 24 hours, according to CoinGecko.

Transaction fees for Ethereum have skyrocketed again in the past few days and have contributed to increased activity on Layer 2 protocols.. According to BitInfoCharts, the average price for transactions on the Ethereum network is currently around $ 23. More complex operations, like decentralized token exchanges or smart contract interactions, can cost $ 66 in gas, according to Etherscan.

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